RBI Constitutes Working Group on Digital Lending

  • Constituted by: Reserve Bank of India (RBI)
  • Date: January, 2021
  • Chairman: Jayant Kumar Dash, Executive Director, RBI

Rationale/Need

  • Recent spurt and popularity of online lending platforms/mobile lending apps (‘digital lending’) has raised certain serious concerns which have wider systemic implications.
  • This move assumes significance in the context of recent reports of illegal app-based lenders thriving across the country.

Terms of Reference

  • Evaluate digital lending activities and assess the penetration and standards of outsourced digital lending activities in RBI regulated entities.
  • Identify risks posed by unregulated digital lending to financial stability, regulated entities and consumers.
  • Suggest regulatory changes, if any, to ....
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